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More ouzo for the Sheriff please: IQE tries to polish turd with sleight of hand as it serves up yet another warning

Can you spot the sleight of hand here?

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#IQE – expects 2022 constant currency revenue “broadly in line” with prior year, cautions with H123 expected industry destocking

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IQE – interims, is further cash burn “demonstrated resilience” then?!

IQE plc (IQE) has announced results for the first half of 2022, arguing “the business has demonstrated resilience” and “strong progress” against its strategic transformation goals. Really?

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#IQE – H1 increased loss and net debt, argues ‘strategic transformation’. Hmmm

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#IQE – Numis appointed as joint broker with immediate effect; why’s that then?

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The stench of Equities First, IQE and Drew Nelson - scumbags the lot of 'em

Drew Nelson is the scumbag who as CEO of IQE (IQE) persuaded thirsty share bloggers and other gullible souls that his low grade commodity business, based in the  rain sodden, post industrial, covid ridden, second world wastelands of South Wales which never generated a cent of cash was somehow a great growth stock. That justified paying Drew a vast salary but that was not enough to sate his greed.

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IQE – lawsuit for which it argues it has “significant evidence”. But for a number of reasons far from ideal?

IQE plc (IQE) has announced it has filed a lawsuit in the U.S. Federal Court in California, stating it has “significant evidence” that Tower Semiconductor misappropriated IQE's trade secrets to unlawfully obtain patents on IQE's technology. Tower Semiconductor is a US-listed (Nasdaq - TSEM) circa $5 billion capitalised company which giant Intel is currently in the process of acquiring.

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#IQE – filed IP lawsuit in California against Tower Semiconductor

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IQE – not even constant currency revenue growth and what about the bottom-line?!

IQE plc (IQE) states it is “pleased we have met our expectations and commitments for H1 2022… the group's view of the full year remains unchanged”. With it describing itself as “the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry”, this good news then?

NEWSFLOW

#IQE – H1 constant currency revenue “in line with prior year”, what about the bottom-line?